Hungary’s seasonally adjusted manufacturing PMI rose to 53.4 in November 2025 from a revised 51.2 in October, signaling the strongest expansion in the country’s factory activity since May 2023. Growth was broad-based, with both new orders and production rising, while employment returned to expansion with the index above 50. Purchase prices increased, reflecting higher input costs, and both export and import indices showed expansion. Most index components improved from October, marking a continued recovery after summer contractions. The November reading also exceeded the three-year average for the month of 50.9, highlighting a rebound in manufacturing compared with past periods of slower growth and inflationary pressures.